President Goodluck Jonathan yesterday, justified the suspension of the Central Bank of Nigeria (CBN) governor, Mallam Sanusi Lamido Sanusi, saying he has absolute right to do so. Sanusi was suspended last Thursday for alleged financial recklessness and since then, controversy has trailed the action.
He, however, noted that Sanusi has merely been made to step aside to allow the Board of Directors of the CBN and the Financial Reporting Council of Nigeria (FRCN) carry out an unhindered investigation.
President Jonathan made the remarks during the Centenary Presidential Media Chat on the Nigerian Television Authority (NTA) in Abuja.
The President, who explained that he has oversight functions over the CBN, explained that Sanusi’s suspension had nothing to do with his allegation on the 20 billion dollars missing oil money.
“Sanusi is still the governor of the CBN, he can still come back tomorrow. The issue of suspension came because the CBN Governor is the Chairman of the CBN board. And there are issues raised, and for you to look into the issues, the CBN governor must step aside. Sanusi has just stepped aside.
“ Sanusi is still the Governor of the CBN. There can never be a substantive governor till the issues are sorted out.
“But as the President of the Federal Republic of Nigeria, by virtue of the Constitution, I have absolute power to suspend the Governor of the Central Bank of Nigeria. CBN issue is not even well defined in the Constitution. If you look at the Constitution, section 152, there are others like Federal Character Commission, Civil Service Commission, Code of Conduct Commission; about 14 of them were clearly defined. It says that for the President to appoint or remove, the President must go to the Senate. The CBN as number one banker in Nigeria, it is not well-defined in Nigerian Constitution.
“The President has oversight function on the CBN. So, if anybody tells you that the CBN is not under his control, it is not true. If the governor must change colour of Naira, the President must agree”.
On why it took the President so long to act, the President said it was because the issue of the CBN was a very sensitive one, explaining that one has to consult widely to ensure that the CBN Act was not set aside while handling the issue.
He regretted that some people read political meanings into the suspension of the CBN governor by associating the development with the alleged missing oil money, observing that he was yet to receive the 2013 audited report from the apex bank.
President Jonathan assured that the prosecution of Sanusi will follow due process if it must happen.
President Jonathan in the chat which was dominated by the Sanusi saga also expressed worries over the Boko Haram insurgency but noted that the Federal Government has recorded a lot of successes in the fight against the menace.
He said that fighting terrorism is a difficult task but expressed satisfaction with the effort of the security agencies which have pushed the terrorists from the Federal Capital Territory (FCT) to the fringes of the nation in the Northern parts of the country.
“We are still working on the tactics and surely, we will get over it”, he said.
He regretted the statement credited to the Borno State Gov. Kashim Shettima on activities of the sect in the North, saying it was unfortunate.
President Jonathan also dismissed speculations that the Federal Government was planning to replace the governor with a military administrator.
The President who declined to comment on his re-election ambition also expressed confidence in the forthcoming National Conference.
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